FT. LAUDERDALE, FL, Aug. 3, 2010 -- The Everglades is the largest remaining subtropical wilderness in the United States. It is a national treasure, unlike any other ecosystem in the world. The Comprehensive Everglades Restoration Plan (CERP) is a joint project among state, federal, tribal and local governments to restore, preserve and protect the South Florida ecosystem, while providing for other water related needs of the region, including water supply and flood protection.
RSF Social Finance, one of the first organizations to dedicate funds to a fixed-income portfolio comprised primarily of securities that support environmental initiatives, helped provide funding for the Everglades restoration through its investment portfolio managed by Community Capital Management.
"Ecological stewardship is a core part of our mission and values," said Don Shaffer, President and CEO of RSF Social Finance. "The CERP is vital in helping to sustain and preserve the South Florida ecosystem and we are thrilled that our investment will further the cause."
The bond that helped fund the project is part of the Build America Bond program and was issued by the State of Florida Department of Environmental Protection, the lead agency in state government for environmental management. The Build America Bond program was created to assist state and local governments in financing capital projects at lower borrowing costs to stimulate the economy and create jobs.
Beyond environmental benefits, the CERP will also be a catalyst for important economic benefits including recreation, tourism, and agriculture. It is a combination of all these efforts that will aid in the recovery of a sustainable ecosystem.
"The CERP is an outstanding example of public organizations working together to help restore the South Florida ecosystem," said Barbara VanScoy, Founder, Chair and Senior Portfolio Manager of Community Capital Management Inc. "Given the location of our firm's home office in Fort Lauderdale, we are especially excited to participate in this bond deal."
About Community Capital Management Inc.
Community Capital Management is a Fort Lauderdale-based SEC-registered investment adviser. The firm was founded in 1998 by Barbara VanScoy and Todd Cohen to provide fixed income investment services to investors. Its clients include public funds, foundations, financial institutions, faith-based investors, and mission-related investors. Community Capital Management manages over $1 billion in assets and offers investors its investment strategy via a separate account or its mutual fund, the CRA Qualified Investment Fund. For additional information, please contact Jamie Horwitz at firstname.lastname@example.org or visit www.ccmfixedincome.com.
About RSF Social Finance
RSF Social Finance (RSF) is a 501(c)3 financial services organization with a vision to transform the way the world works with money, one transaction at a time. Inspired by the work of Rudolf Steiner, RSF offers investing, lending, and giving services that support non-profit and for-profit social enterprises addressing key issues in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. In partnership with its community of investors and donors, RSF has made over $200 million in loans and over $90 million in grants since 1984. Learn more about what you and RSF can do together at www.rsfsocialfinance.org or call 415.561.3900.